Globavend Holdings Announces MOU to Acquire Top Logistics, a Key One-stop Logistics Solutions Provider in Australia
May 29 2024 - 8:30AM
Globavend Holdings Limited (Nasdaq: GVH) (the
“
Company” or “
Globavend”), an
emerging e-commerce logistics provider, today announced it has
entered into a non-binding Memorandum of Understanding
(“
MOU”) to make an equity investment in Top
Logistics Australia Pty Ltd (“
Top Logistics”), a
key one stop logistics solutions provider in Australia. Under the
MOU, the Company would make an equity investment in Top Logistics
on fulfillment and/or waiver of certain conditions precedent to be
set out in the definitive agreement, which is subject to a further
and ongoing discussions and due diligence.
Top Logistics is a full-service logistics
provider headquartered in Sydney with a very strong presence in
Australia, having warehouses in Sydney, Melbourne and Brisbane with
space over 15,000 square metres. It specializes in sea & air
freight, import, customs clearance, cargo-deconsolidation, packing
and fulfillment, transport and logistics, as well as warehousing
services.
Wai Yiu Yau, CEO of Globavend stated “The
proposed transaction aligns with Globavend’s strategy to solidify
its business presence and expansion into Australia. According to
the 2024 Australian Post eCommerce Industry Report, 8 in 10
Australian households shopped online in 2023 and 9.5 million
households in Australia have received a parcel in 2023. Australian
has spent AUD63.6 billion (approximately US$42.4 billion) in 2023
in shopping online. Given the market presence of Top Logistics has,
we believe the proposed acquisition will further boost our business
performance and help our business to thrive in future.”
About Globavend Holdings Limited
Globavend Holdings Limited is an emerging
e-commerce logistics provider offering end-to-end logistics
solution in Hong Kong, Australia and New Zealand. The Company’s
customers are primarily enterprise customers, being e-commerce
merchants, or operators of e-commerce platforms, in providing
business-to-consumer (B2C) transactions. As an e-commerce logistics
provider, the Company provides integrated cross-border logistics
services from Hong Kong to Australia and New Zealand, where it
provides customers with a one-stop solution, from pre-carriage
parcel drop off to parcel consolidation, air-freight forwarding,
customs clearance, on-carriage parcel transportation and
delivery.
Forward-Looking Statements
This press release contains certain
forward-looking statements, including statements with regard to the
Company’s proposed transaction and the future potential of the
Company. Words such as “will,” future,” “expects,” “believes,” and
“intends,” or similar expressions, are intended to identify
forward-looking statements. Forward-looking statements are subject
to inherent uncertainties in predicting future results and
conditions and no assurance can be given that the proposed
transaction discussed above will be completed on the terms
described or achieve the objectives contemplated. These and other
risk factors and uncertainties are set forth in our annual report
on Form 20-F. The Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by law.
For investor and media inquiries, please
contact:
Company Info:
Globavend Holdings LimitedWai Yiu Yau, Chairman
and CEOproject@globavend.com 61 08 6141 3263
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